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In the Spotlight
Figure 1.1 Gatorade remains a market-leading product due to parent company Pepsi’s success with the marketing mix—product, price, place, and promotion. (credit: modification of work “Gatorade” by JeepersMedia/flickr, CC BY 2.0) Chapter Outline 1.1 Market...
Applied Marketing Knowledge: Discussion Questions
1. Why is capturing customer lifetime value so important? Choose a retailer, and apply this concept as a way to explain, in part, its profitability and long-term viability in the marketplace. 2. The marketing mix has been compared to a toolbelt. In othe...
In the Spotlight
Figure 2.1 A team of marketing strategists brainstorm to develop a strategic plan. (credit: modification of work “Design a Better Business Masterclass @ Zoku Amsterdam, October 2017” by Sebastiaan ter Burg/flickr, CC BY 2.0) Chapter Outline 2.1 D...
References
1. Rachel Arthur, “Gatorade, Powerade & BodyArmor: How PepsiCo and Coca-Cola Are Playing in the Sports Drink Category,” BeverageDaily, William Reed, updated March 25, 2021, https://www.beveragedaily.com/Article/2021/03/25/Gatorade-Powerade-BodyArmor-How-...
Closing Company Case
Batdorf & Bronson Coffee is a global drink loved by so many. From the simple espresso in Italy to the cinnamon added in Mexico, coffee is a global beverage. The origins of coffee date back to the ninth century. Legend has it that in a remote part of Ethiopi...
Marketing Plan Exercise
MARKETING PLAN PROJECT—PART I During this course, you will develop a marketing plan as part of a semester-long project. The marketing plan that you develop will build throughout the course over nine chapters of this textbook. The purpose of Part I of this ma...
What Do Marketers Do?
The American Marketing Association (AMA) has teamed up with the Digital Marketing Institute to offer specialized training within the marketing discipline. You can set yourself apart from other marketers with additional certifications. Are there other benefits ...
Building Your Personal Brand
Taking college courses is a huge step forward in your professional development. But there are additional activities that can also impact your self-awareness and provide credentials sought by employers. Campus career center directors, employers, and internship ...
Critical Thinking Exercises
1. Your roommate in the dorm talks on his cell phone incessantly while you’re trying to study. Since you’re a broke college student and it’s too cold to walk to the library, you decide to explore the marketplace for used noise-canceling headphones. How w...
Key Terms
5Ms of marketing internal elements of a marketing plan that need to be resolved if the plan is successful buyer a person or institution that purchases goods or services consumer the final user of a purchased product or service customer a p...
Unit Introduction
Welcome to Principles of Marketing! Some people may mistakenly believe that marketing skills can only be applied to marketing tasks, but the fact is that marketing isn’t only for marketers. Studying marketing is essential in almost any career field, because it...
Chapter Summary
This chapter introduces the basic concepts of marketing, including adding value to a company’s business. Marketing begins with strategy and relies on creating and delivering value to customers. It is crucial for marketers to understand exactly what customers v...
1.7 Ethical Marketing
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define ethical marketing. 2 Describe the importance of ethical marketing. 3 Explain the dos and don’ts of ethical marketing. Ethical Marketing Defined As th...
1.6 Customer Relationship Management (CRM)
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define customer relationship management (CRM). 2 Describe the impact of CRM on customer loyalty and retention. 3 Explain how CRM builds customer equity. The Imp...
1.5 Determining Consumer Needs and Wants
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain how an organization identifies consumer needs and wants. 2 Describe the process through which an organization satisfies consumer needs and wants. Ident...
1.4 Evolution of the Marketing Concept
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Describe the production concept. 2 Define the product concept. 3 Discuss the selling concept. 4 Explain the marketing concept. 5 Summarize the societal marketing concept and...
1.3 Factors Comprising and Affecting the Marketing Environment
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define and describe the marketing environment. 2 Explain the components of the marketing environment. 3 Identify and describe the internal factors of the marketing environment...
1.2 The Marketing Mix and the 4Ps of Marketing
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define and describe the marketing mix. 2 List and explain the 4Ps of marketing. Marketing Mix Defined Having a great product or service is just the first step i...
1.1 Marketing and the Marketing Process
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define and describe marketing. 2 Describe the benefits of marketing to the organization, its interested parties, and society. 3 Explain the marketing process. ...
2.1 Developing a Strategic Plan
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define strategic planning and list the steps in the strategic planning process. 2 Write an effective vision statement and mission statement. 3 Describe the role of company ...